Asia to set up $80 bln fund
Yes, as mentioned before, a "challenger" to the crypto-Jewish IMF is being established ---- just in time too!!!
| Asia to set up $80 bln fund |
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By Yang Xi
Korea, China, Japan and ASEAN countries are set to expedite a previously-established plan to form and administer an $80 billion fund for use in any Asian financial emergency, said South Korean Deputy Finance Minister Shin Je-yoon yesterday. The $80 billion program will be the Asian version of the International Monetary Fund.
Finance Ministers from ASEAN as well as China, Japan and South Korea agreed on a regional foreign reserve swap in May. China, Japan and South Korea will contribute $64 billion, accounting for 80 percent of the pool, while the 10 members of ASEAN will make up the rest, according to South Korea-based JoongAng Daily.
Although detailed plans for fund distribution and a decision-making body have not been worked out, speeding up the discussion for the joint fund will in itself help to relieve public concern about financial markets.
The ASEAN+3 nations are discussing plans for a network of swap arrangements under the Qiang Mai Initiative, which aims at managing short-term liquidity problems within the region. South Korea, China and Japan expect the joint fund to help countries hit by financial crisis.
(China.org.cn October 6, 2008)
Where does all this hostility come from?
There was a similar Japanese initiative during the "Asian Financial Crisis" in 1997/98, but that was successfully thwarted by the IMF and its US handlers.
Why do countries have such short memories?
Do they not see that this is exactly what makes Al Qaeda send out suicide bombers in droves?
Latest Hotspot in the U.S. Defense Meltdown.” This analysis by Pierre M. Spey, a key member of the F-16 and A-10 design teams, cast sharp doubt on the F-35’s capabilities:
“Even without new problems, the F-35 is a ‘dog.’ If one accepts every performance promise the DoD currently makes for the aircraft, the F-35 will be: “Overweight and underpowered: at 49,500 lb (22,450kg) air-to-air take-off weight with an engine rated at 42,000 lb of thrust, it will be a significant step backward in thrust-to-weight ratio for a new fighter…. [F-35A and F-35B variants] will have a ‘wing-loading’ of 108 lb per square foot…. less manoeuvrable than the appallingly vulnerable F-105 ‘Lead Sled’ that got wiped out over North Vietnam…. payload of only two 2,000 lb bombs in its bomb bay…. With more bombs carried under its wings, the F-35 instantly becomes ‘non-stealthy’ and the DoD does not plan to seriously test it in this configuration for years. As a ‘close air support’… too fast to see the tactical targets it is shooting at; too delicate and flammable to withstand ground fire; and it lacks the payload and especially the endurance to loiter usefully over US forces for sustained periods…. What the USAF will not tell you is that ‘stealthy’ aircraft are quite detectable by radar; it is simply a question of the type of radar and its angle relative to the aircraft…. As for the highly complex electronics to attack targets in the air, the F-35, like the F-22 before it, has mortgaged its success on a hypothetical vision of ultra-long range, radar-based air-to-air combat that has fallen on its face many times in real air war. The F-35’s air-to-ground electronics promise little more than slicker command and control for the use of existing munitions.”
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